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Safflower Oil Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

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Safflower oil is extracted from safflower plant seeds. Safflower has had a rich history among both eastern and western civilizations in its plant form as well as in the processed oil. It is still a part of the human diet. Safflower oil bridges the commercialization between ancient and modern times. A growing number of benefits from the use of safflower oil as a nutrition and health supplement is boosting the market for safflower oil. The market is showing significant improvements in health standards across the globe due to its associated oil product benefits. Safflower is a plant and it is seen that flower and oil from the seeds are used as medicine. The growing prevalence of heart diseases, which includes the hardening of arteries and stroke, has become a normal phenomenon across all sections of the population. It has also been seen that safflower oil is also used to treat fevers, coughs, tumors, breathing problems, clotting conditions, and traumatic injuries. Safflower oil is preferred due to changes in lifestyle and an inclination toward the consumption of low-fat foods, coupled with health benefits. With continuous health improvements, special economic incentives are being given to companies to achieve improvements in health standards, which leads to both social and economic welfare. Health standard norms and global acceptance are the key factors on which the growth of the global market for safflower oil depends.

The safflower oil market has been segmented into two types: monounsaturated safflower oil and polyunsaturated safflower oil. Monounsaturated safflower oil are mainly seen used as cooking oil in applications requiring high cooking temperatures. It has been considered shelf stable and it can be stored in a dry, cool, and dark place. It has also been observed that monounsaturated oils are advertised for their quality of durability while being used to cook at high temperatures. However, it is seen that polyunsaturated safflower oil consists of linoleic acid and is mainly used in cold applications, such as being mixed into salad dressings. It is seen that polyunsaturated oils cannot be used for cooking purposes as it can become rancid. Safflower oil thus finds application in both personal and commercial purposes.

By region, the safflower oil market is segmented into Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. The benefits of using safflower oil, which includes dietary needs and overall well-being, is boosting the market for safflower oil during the forecast period. From the study it has also been observed that both monounsaturated and polyunsaturated oils are used for food purposes and that they consist of less saturated fat than normal cooking oil. Safflower oil is seen used also in the industrial sector as a drying oil in the manufacturing of stains and paints. It is also seen that the meal which is left after pressing the oil is used to feed cows.

Safflower oil is seen to be used as a health supplement and it has been seen that taking daily dosages of the oil can lower cholesterol, reduce inflammation, aid in body fat reduction, and help in muscle growth. Some restraints have been observed in this market as well. Safflower belongs to the daisy family and some people are allergic to daisy; the consumption of this oil in such people results in harmful reactions. It has also been observed that patients using safflower oil have experienced vomiting, stomach aches, and cramps. Additionally, awareness of the benefits of safflower oil is yet to reach large sections of population..

Key participants in the global safflower oil market include Oil Seeds International Inc., Adams Group, Ciaberia International Inc., Aktivv LLP, Galp Distribution Oil España S.A.U, and Los Charitos.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
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The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
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  • Emerging niche segments and regional markets
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